Skin in the game: Hidden Asymmetries in Daily Life

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From the New York Times bestselling author of The Black Swan, a bold new work that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility In his most provocative and practical book yet, one of the foremost thinkers of our time redefines what it means to understand the world, succeed in a profession, contribute to a fair and just society, detect nonsense, and influence others. Citing examples ranging from Hammurabi to Seneca, Antaeus the Giant to Donald Trump, Nassim Nicholas Taleb shows how the willingness to accept one's own risks is an essential attribute of heroes, saints, and flourishing people in all walks of life. As always both accessible and iconoclastic, Taleb challenges long-held beliefs about the values of those who spearhead military interventions, make financial investments, and propagate religious faiths. Among his insights: For social justice, focus on symmetry and risk sharing. You cannot make profits and transfer the risks to others, as bankers and large corporations do. You cannot get rich without owning your own risk and paying for your own losses. Forcing skin in the game corrects this asymmetry better than thousands of laws and regulations. Ethical rules aren't universal. You're part of a group larger than you, but it's still smaller than humanity in general. Minorities, not majorities, run the world. The world is not run by consensus but by stubborn minorities imposing their tastes and ethics on others. You can be an intellectual yet still be an idiot. "Educated philistines" have been wrong on everything from Stalinism to Iraq to low-carb diets. Beware of complicated solutions (that someone was paid to find). A simple barbell can build muscle better than expensive new machines. True religion is commitment, not just faith. How much you believe in something is manifested only by what you're willing to risk for it. The phrase "skin in the game" is one we have often heard but rarely stopped to truly dissect. It is the backbone of risk management, but it's also an astonishingly complex worldview that, as Taleb shows in this book, applies to all aspects of our lives.
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ISBN:
9780425284629
9780425284636
9780525630920
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Grouped Work ID 29b38833-a5e4-3091-6146-6c923c9ed975
Grouping Title skin in the game hidden asymmetries in daily life
Grouping Author taleb nassim nicholas
Grouping Category book
Last Grouping Update 2019-04-23 05:27:56AM
Last Indexed 2019-04-23 05:30:19AM

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author Nassim Nicholas Taleb
author_display Nassim Nicholas Taleb
available_at_catalog McKinley, North Natomas, Pocket-Greenhaven, Southgate
detailed_location_catalog Arden-Dimick, Central New Books - 1st Floor, Elk Grove, Franklin, McKinley, North Natomas, Pocket-Greenhaven, Rancho Cordova, Southgate
display_description From the New York Times bestselling author of The Black Swan, a bold new work that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility

In his most provocative and practical book yet, one of the foremost thinkers of our time redefines what it means to understand the world, succeed in a profession, contribute to a fair and just society, detect nonsense, and influence others. Citing examples ranging from Hammurabi to Seneca, Antaeus the Giant to Donald Trump, Nassim Nicholas Taleb shows how the willingness to accept one's own risks is an essential attribute of heroes, saints, and flourishing people in all walks of life.

As always both accessible and iconoclastic, Taleb challenges long-held beliefs about the values of those who spearhead military interventions, make financial investments, and propagate religious faiths. Among his insights:

For social justice, focus on symmetry and risk sharing. You cannot make profits and transfer the risks to others, as bankers and large corporations do. You cannot get rich without owning your own risk and paying for your own losses. Forcing skin in the game corrects this asymmetry better than thousands of laws and regulations.
Ethical rules aren't universal. You're part of a group larger than you, but it's still smaller than humanity in general.
Minorities, not majorities, run the world. The world is not run by consensus but by stubborn minorities imposing their tastes and ethics on others.
You can be an intellectual yet still be an idiot. "Educated philistines" have been wrong on everything from Stalinism to Iraq to low-carb diets.
Beware of complicated solutions (that someone was paid to find). A simple barbell can build muscle better than expensive new machines.
True religion is commitment, not just faith. How much you believe in something is manifested only by what you're willing to risk for it.

The phrase "skin in the game" is one we have often heard but rarely stopped to truly dissect. It is the backbone of risk management, but it's also an astonishingly complex worldview that, as Taleb shows in this book, applies to all aspects of our lives.
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subject_facet Complexity (Philosophy), Information asymmetry -- Social aspects, Risk -- Sociological aspects, Risk-taking (Psychology) -- Social aspects, Uncertainty (Information theory) -- Social aspects
title_display Skin in the game : hidden asymmetries in daily life
title_full Skin in the Game Hidden Asymmetries in Daily Life, Skin in the game : hidden asymmetries in daily life / Nassim Nicholas Taleb
title_short Skin in the game :
title_sub Hidden Asymmetries in Daily Life
topic_facet Business, Complexity (Philosophy), Information asymmetry, Nonfiction, Philosophy, Politics, Risk, Risk-taking (Psychology), Social aspects, Sociological aspects, Uncertainty (Information theory)